Q. Which country has the world's largest proven oil reserves?
Answer: Venezuela
Notes: Venezuela holds approximately 303.2 billion barrels of proven oil reserves as of 2023. Saudi Arabia is second with 267.2 billion barrels. Venezuela's reserves include large deposits in the Orinoco Belt. This increase was recognized in the late 2000s following reassessment and new extraction technologies. Data is published by the U.S. Energy Information Administration and OPEC.
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